Why Jon Najarian Is Betting on Wynn

Options trader Jon Najarian on Monday said he's betting on Wynn Resorts.

The casino operator saw shares pop on Monday after having announced it signed a land deal with the Macau government to build its second casino-resort in the territory. Being as the casino won't be completed until 2012, some on Wall Street worry the Chinese government could provide for some snags along the way. Najarian said government interference is possible, but he's not too concerned.

"Their government has been very supportive," Najarian said. "As Mr. Wynn would tell you, they're much more supportive of capitalism than our country has been of late."

Najarian is also bullish on Wynn because recent data showed Las Vegas has produced year-over-year gains. He thinks that reflects the U.S.'s economy is not as bad as some think, much less in a recession.



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Trader disclosure: On Sept. 12, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Jon Najarian owns call spreads in (ANF). Jon Najarian owns call spreads in (AAPL). Jon Najarian owns call spreads in (XOM). Jon Najarian owns (CIGX). Tim Seymour owns (AAPL), (BAC) and (INTC). Guy Adami owns (AGU), (C), (GS), (INTC), (MSFT), (NUE) and (BTU). Dan Nathan owns (AMZN) puts. Dan Nathan owns (AAPL) calls. Dan Nathan owns (BAC) puts. Dan Nathan owns (GS) calls. Dan Nathan owns (JPM) puts. Dan Nathan owns S&P 500 puts. Joe Terranova owns (XOM), (DIS), (WFM), (LULU), (MSFT), (TM), (JWN), (ORCL), (PEP), (MA), (BX), (GS), (DAR), (CAT), (VRTS), (AAPL), (CAT), (CVI), (IBM) and (FCX).

Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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